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"China has played a big role in the past partly because it's part of the emerging market class and therefore it has the responsibility to fill in that gap in terms of being the lender of last resort," Jin said.

"China has taken the lead in AI and big data sector, in which China has ranked No 1 in investment, far more than America and Europe," said Guo Yike, a professor from Imperial College London and founding director of the college's data science institute.

"China is the world's second-largest luxury market, and we are delighted to have such a respected partner. This partnership addresses the market's challenges by combining the Farfetch brand and curation with the scale and influence of the foremost Chinese e-commerce giant," said Jose Neves, CEO of Farfetch, which raised 0 million in 2016 in a Series F round of funding.

"But now, with just a click of mouse, we can sell them to urban residents thousands of kilometers away."

"China is way ahead in terms of payment technologies and preferences," Tubb added. "Currently, our focus is still taking Chinese merchants to overseas markets. And more and more, we see the rise of markets alongside the Belt and Road Initiative digital route."